he following 1 2 d15 19 information: 3 4 27 30 5 37 6 58 ng the two-month weighted moving average with weights assigne Forecast for Month 7 is forecasting error for Month 5 is

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
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Chapter4: Linear Functions
Section4.3: Fitting Linear Models To Data
Problem 24SE: Table 6 shows the year and the number ofpeople unemployed in a particular city for several years....
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Given the following information:
Month 1
2
4
Demand 15
19
3
27
30
5
6
37 58
(a) Using the two-month weighted moving average with weights assigned to the oldest in order 0.3 and 0.7,
(i) the forecast for Month 7 is
(ii) the forecasting error for Month 5 is
(iii) the mean absolute deviation is
(b) Using an exponential smoothing technique with alpha=0.6,
(i) the forecast for Month 7 is
(ii) the forecasting error for Month 4 is
(iii) the mean absolute deviation is
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Transcribed Image Text:Given the following information: Month 1 2 4 Demand 15 19 3 27 30 5 6 37 58 (a) Using the two-month weighted moving average with weights assigned to the oldest in order 0.3 and 0.7, (i) the forecast for Month 7 is (ii) the forecasting error for Month 5 is (iii) the mean absolute deviation is (b) Using an exponential smoothing technique with alpha=0.6, (i) the forecast for Month 7 is (ii) the forecasting error for Month 4 is (iii) the mean absolute deviation is Time left 1:04
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